haha
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
http://www.reuters.com/article/idUSTRE6355N520100406
http://taxprof.typepad.com/taxprof_blog/2010/04/bill-turnier-argues-for-a-vat.html
I have complete faith in the ability and dedication of America's political class to screw up anything that comes along. But, a VAT is one of the few taxes that isn't all bad. It will not impose extra costs on America's export industries, and thus it may tend to repair the gutting of our industrial core. It will impose some tax on the 48% of Americans who currently pay no income tax, though undoubtedly much of this will be rebated in the service of redistribution.
The income tax will not be replaced by a VAT, only supplemented by it. But face it, the last ten years have permanently altered our fiscal position. American will never, ever again be a low tax nation so the task is to work toward the least destructive of a lot of admittedly destructive choices.
I expect that if and when it happens it will be a debacle, because look at the likely authors and look at the ignoramuses that make up the US voting public. Still, so will anything else be a disaster and this might be less awful than some other possibilities.
It may be quite a bit better than the likely alternative taxes for relatively high income but low spending ERs.
Ha
http://taxprof.typepad.com/taxprof_blog/2010/04/bill-turnier-argues-for-a-vat.html
I have complete faith in the ability and dedication of America's political class to screw up anything that comes along. But, a VAT is one of the few taxes that isn't all bad. It will not impose extra costs on America's export industries, and thus it may tend to repair the gutting of our industrial core. It will impose some tax on the 48% of Americans who currently pay no income tax, though undoubtedly much of this will be rebated in the service of redistribution.
The income tax will not be replaced by a VAT, only supplemented by it. But face it, the last ten years have permanently altered our fiscal position. American will never, ever again be a low tax nation so the task is to work toward the least destructive of a lot of admittedly destructive choices.
I expect that if and when it happens it will be a debacle, because look at the likely authors and look at the ignoramuses that make up the US voting public. Still, so will anything else be a disaster and this might be less awful than some other possibilities.
It may be quite a bit better than the likely alternative taxes for relatively high income but low spending ERs.
Ha